Lagos State Governor Babajide Sanwo-Olu says the State is entering a new era of economic expansion powered by its vast coastal resources, with plans focused on unlocking sustainable financing, strengthening coastal resilience and driving innovation across its waterways.
Speaking at the 2025 Lagos International Climate Change Summit in Victoria Island on Thursday, the Governor said the State’s aquatic assets — particularly along the Atlantic coastline — have remained underutilised for decades, mainly limited to tourism. Lagos, he declared, is now poised to “turn blue waters into green wealth.”
“Our future is sustainable, inclusive and ocean-powered,” Sanwo-Olu told a gathering of policymakers, investors, innovators and environmental experts. “We are saying that investing in Lagos’ resilience is not philanthropy; it is smart economics.”
The summit, themed “Blue Economy, Green Money: Financing Africa’s Coastal Resilience and Ocean Innovation,” highlights strategic priorities to build a coastal economy anchored on resilience, innovation and climate-friendly financing.
Sanwo-Olu said the initiative aims to protect lives and livelihoods, reimagine water-based commerce and mobility, and attract both local and international funding while ensuring environmental integrity.
“The blue economy is not just an economic concept; it is a lifeline for the planet,” he said. “We must finance the tides of resilience to leave behind not just a livable Lagos, but a ‘thrivable’ one.”
Commissioner for the Environment and Water Resources, Tokunbo Wahab, said Lagos is rethinking its relationship with the ocean — not as a resource to exploit but as a living system to be protected. He described the blue economy as “a new frontier for sustainable prosperity” and said the summit aims to mobilise investment for climate-resilient projects.
Minister for Marine and Blue Economy, Gboyega Oyetola — represented by NIMASA Director-General, Dr. Dayo Mobereola — reaffirmed the Federal Government’s commitment to strengthen maritime governance, safeguard oceans and position Nigeria as a regional leader in the blue economy sector.
He acknowledged Lagos as central to the success of that vision, citing ongoing collaborations to secure ocean resources, attract investment and boost coastal livelihoods.
The two-day summit continues with discussions on innovative financing instruments and strategies to maximise the economic value of Nigeria’s marine environment without compromising its sustainability.